I recently read an article " Shift from pay raises to benefit rewards requires ‘holistic approach’ to benefit design", written by Melissa Wynn in the Employee Benefit Advisor December edition (pictured below). The article captured my attention as it is makes reference to a new trend commonly seen in our benefits practice - The shift from pay raises to other forms of creative compensation. Other forms of compensation include (Health Insurance Plans, Deductible Buy-Back Plans, Dental Plans, Vision Plans, Employee Assistance Plans, Legal Benefit Plans, Vacations, etc.
Our clients are routinely asking us to find creative ways to provide value to their employees as many are unable to commit to structured / routine pay raises in this economy. In an effort to maintain employee loyalty and bolster employee moral, companies are introducing new benefit offerings to their employees.
We recognize this new trend but also realize that some companies are unable to increase their benefit budget. In such cases, we can look at $0 benefits that will continue to provide value to the employee but not affect your budget. If you need assistance with your benefit plans, call our Employee Benefit Staff at 800-362-2809. We can create and implement a plan that will increase value while reducing you cost.
Click here to cancel reply
Remember my details
Notify me of followup comments via e-mail